Compositions and methods for degreasing and lubricating objects, such as mechanical devices and the like. A composition comprised of a mixture of ethanol and food-grade mineral oil is applied directly to the substrate or objects sought to be degreased or lubricated. For degreasing applications, an amount of the composition is applied in an amount sufficient to penetrate and loosen grease-covered substrates, and is particularly well suited for hand wiping applications. Such methods can also be utilized to remove paint and ink. The compositions are substantially effective yet relatively non-toxic and biodegradable.